Barings BDC: Signs Of Improving Profile, But Still Risks Remain

Nikolay Pandev December last year, I issued a bearish article on a rather popular BDC - Barings BDC (NYSE:NYSE:BBDC) - making the case that considering the underlying risks, the potential return profile is not strong enough to warrant an attractive investment play. After some while, BBDC circulated its Q4, 2023 earnings deck, which did not reveal any meaningful fundamental improvements for me to change the stance. There are three main reasons why I consider BBDC a suboptimal choice:   Excessive leverage ...